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Author Topic: Infomercial on TV accepting Bitcoin  (Read 1267 times)
clint25n
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June 26, 2011, 07:34:38 PM
 #1

Ok, let's say a commercial comes on TV, and at the payment screen, they claim to accept bitcoin. Like an infomercial. Now, at this point the government would be pushed to make a decision or start a fight with this economy, wouldn't they? What would happen in this situation?

I bet this is close to how it's going to happen. A somewhat larger business is going to say they accept bitcoin, the media is going to cover it, the nation is going to watch and then the fight is gonna happen.

Thoughts?
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Stephen Gornick
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June 26, 2011, 07:49:40 PM
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at this point the government would be pushed to make a decision or start a fight with this economy, wouldn't they?

There are quite a few businesses that already accept bitcoin and not one has been contacted by the government, as far as I've seen:
  - http://en.bitcoin.it/wiki/Trade

This is similar to when Philip R. Zimmermann, creator of PGP encryption, would get interviewed by the press or be in conversations with management from other companies and the recurring question was what would they do "when the government stopped them?".

Nearly twenty years later on a panel Zimmerman says "[the government] never even called us".
  - http://www.bitcoinmoney.com/post/6136537609

clint25n
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June 26, 2011, 07:58:44 PM
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Of course there are a lot of businesses that accept btc. And I understand this scenario hasn't happened yet; but I'm sure a lot of people agree it will one day.

Just needs a media frenzy. Something is going to happen one day, maybe connected to a celebrity, maybe a large business. But when the media is all over it, and the nation is all watching... then we will see what the law makers "try" to do.

But maybe you're right. Maybe they won't. I just don't see bitcoin never encountering a legal threat/fight.
tymothy
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June 26, 2011, 08:55:17 PM
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Ok, let's say a commercial comes on TV, and at the payment screen, they claim to accept bitcoin. Like an infomercial. Now, at this point the government would be pushed to make a decision or start a fight with this economy, wouldn't they? What would happen in this situation?

I bet this is close to how it's going to happen. A somewhat larger business is going to say they accept bitcoin, the media is going to cover it, the nation is going to watch and then the fight is gonna happen.

Thoughts?

So long as the company still paid taxes new legislation would need to be passed to hinder the company. Given the current lean of politics, I don't see this occurring for a good while.
evileric
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June 26, 2011, 09:31:22 PM
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Fun fact: bitcoin addresses are far too long for the average person to read out over the phone, or type in securly.. Need some kind of short url combined with a onetime use address to tie orders to people.. Eg:

Visit paysite.com/11357 and pay the address that comes up.. Next person who calls is told 11358 etc.. Would be much easier for merchants, users, and sales trac”ing.

Litt
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June 26, 2011, 10:25:33 PM
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Ok, let's say a commercial comes on TV, and at the payment screen, they claim to accept bitcoin. Like an infomercial. Now, at this point the government would be pushed to make a decision or start a fight with this economy, wouldn't they? What would happen in this situation?

I bet this is close to how it's going to happen. A somewhat larger business is going to say they accept bitcoin, the media is going to cover it, the nation is going to watch and then the fight is gonna happen.

Thoughts?

I don't understand why they would fight honestly. If they actually were looking into Bitcoin as they should, they will realize that Bitcoin is the best chance they have at a peaceful way out of this financial mess imo. This might be the first time the gov and the politicians have a currency they can fall back on without having to push through a new model and fight the current model the traditional way. If I were in a position in power of gov looking out, I would not see it so much as a threat, but more like a life jacket for them to avoid facing violent repercussions that are unnecessary.
qualia8
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June 26, 2011, 10:46:35 PM
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The first major business to do it should be in Utah, where they've already passed legislation allowing gold and silver as legal tender.  The state would probably be supportive of bitcoin, or at least they would have a hard time going aggressively against it, but not the precious metals.
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